Basic Terms

Basic Concepts of Statistics #2

This post is a continuation of the Basic concepts of Statistics. Click here for part 1. In part 1 we learned the definitions of mean median and mode. In this post we will learn some additional concepts of statistics and basic terms. Variance Variance is a term that defines the range of values that may occur away from the mean of the sample. For example, you pick a random sample… Read More »Basic Concepts of Statistics #2

Basic Statistics Concepts #1

When we start learning Statistics, our first plan of action is to learn the basic statistics concepts used in this field. The most common question asked by new students is “What is Statistics?”. Statistics is the inferential study of data from a sample to estimate the behavior and characteristics of a population defined by the the study. Here are some basic statistics concepts The beginning of any statistical study starts… Read More »Basic Statistics Concepts #1